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Crisis Makes Sri Lankan Stocks World’s Worst Losers After Russia

  • Political turmoil, soaring inflation take a toll on the market
  • MSCI Frontier Asia Index capped worst quarter in two years
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Sri Lankans Defy Curfew Amid Economic Crisis

The boom in Sri Lanka’s stocks has turned to bust as a 33% slide renders the market the world’s worst performer this year after Russian equities.

The Sri Lanka Colombo Stock Exchange All Share Index is tumbling as protests mount nationwide against soaring inflation and power cuts. A growing political crisis has torpedoed a market that rallied 80% in 2021 -- the world’s best performance after Mongolia -- with the central bank chief’s resignation on Monday further complicating the picture.